European Energy has secured GBP 58.1 million in construction financing from Danske Bank for its Indian Queens hybrid renewable energy project in Cornwall, United Kingdom. The financing will support the ongoing construction of a project that combines solar power generation with battery energy storage.
The Indian Queens project includes a 68 MW solar park and a 47.5 MW/95 MWh battery energy storage system (BESS). The facility is expected to begin commercial operations in 2027 and will operate using a shared grid connection for both solar generation and battery storage.
The hybrid project is designed to make more efficient use of existing grid infrastructure while improving flexibility and supporting the integration of renewable power. By combining solar generation with battery storage, the project can provide both clean electricity and energy storage capabilities according to grid and market requirements.
European Energy said the project reflects its broader strategy of developing integrated renewable energy assets that combine generation and storage. The company expects such projects to improve grid utilisation, increase operational flexibility and create attractive long-term investment opportunities.
Jens Peter Zink, Deputy CEO of European Energy, said hybrid renewable energy projects are becoming increasingly important as markets require more flexible and resilient energy assets. He added that combining battery storage with solar generation can strengthen the long-term investment profile of renewable infrastructure.
Danske Bank said the financing reflects its commitment to supporting renewable energy development and helping Nordic companies expand into international markets. The bank’s support for Indian Queens highlights growing financial interest in large-scale solar and battery projects in the United Kingdom.
The Indian Queens project has been structured around contracted renewable generation and battery flexibility. The solar component is supported by a corporate power purchase agreement (cPPA), while the battery energy storage system is supported by a Capacity Market Contract (CMC). This combination is intended to provide greater revenue stability while retaining operational flexibility.
The use of a single grid connection for both generation and storage is another key feature of the project. This approach can help optimise available grid capacity and improve the overall efficiency of the infrastructure.
Once operational, Indian Queens will add renewable generation capacity to the UK energy system while providing battery storage to support flexibility. The project also forms part of European Energy’s wider pipeline of solar and energy storage developments across Europe.
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